Asia Bizz: Automobile Manufacturer Chrysler Witnesses Second Quarter Financial Â Loss
American automobile giant Chrysler, has reported that it has earned a second quarter loss in this financial quarter. It has still stated that it has more work to be done with the company, and has promised that it will be changing its financial outlook by the year end.
Chrysler has again stood on its financial grounds in the month of June last year, as the American government was trying to contain its own bankruptcy. With the help of Fiat, it has promised that the year 2010 will be the year of financialÂ stabilization.
The automotive manufacturer has narrowed down its loss to $172 million for the second quarter, compared to the $197 lost in the first quarter this year. The company’s profit rose by 8.2% for the first three months in the second quarter, it earned around $10.5 billion in the second quarter.
Chrysler had undergone a stiff financial crisis before 2009, after it came together with Italy’s Fiat, to gain some financialÂ stabilization. Now Chrysler states that it expects to earn $40 billion by the end of the annual financial year.